XRP Surges Amid Legal Wins and Upheaval at the SEC

XRP (XRP USD) has risen to over $2.50 in recent days, gaining over 4% and outperforming Bitcoin and Ethereum. According to TradingView data, this rally broke a bearish trend line, with XRP trading above its 100-hour Simple Moving Average. Analysts believe the price could reach $2.60, with even higher targets such as $2.72 or $2.80 in sight. However, XRP needs to stay above $2.42 to avoid a possible decline.

The bullish pattern signals an XRP target of $4

Market analysts, including World of Charts, are predicting a 60 percent rally for XRP, which could potentially push the price to $4 in the short term Cointelegraph. This bullish outlook comes from a breakout of a symmetrical triangle pattern on the XRP chart, which often signals continuation. It is crucial to maintain this momentum as a break below $2.37 could negate the breakout scenario.

Ripple gains legal edge over SEC

Ripple recently scored a small victory in its legal battle with the US Securities and Exchange Commission (SEC). On January 11, a federal judge allowed Ripple to seal sensitive documents related to its motion for summary judgment, fueling investor optimism. As a leadership change looms at the SEC with Paul Atkins set to succeed Gary Gensler, legal experts believe a more crypto-friendly stance could emerge, potentially reducing regulatory uncertainty for XRP.

At the time of writing, XRP is at $2.5818.